Firstly, let's talk about pyop accounting, an absolute godsend for those of us who need a dynamic partner in building a real business that doesn't just pay the bills but supports a legitimate source of income, a retirement plan, and the ability to live life on our own terms. Because let's be honest, life is too short for low returns on big energy. Am I right, or am I right?
Now, onto the main event: drum roll please... Is your studio cheap or expensive?
Well, it's like asking if a zebra is black with white stripes or white with black stripes - the answer depends on how you look at it. I recently stumbled upon a gem of a story from Russell Brunson, the co-founder of ClickFunnels, in his book ".com Secrets."
Brunson posed a question to a room full of successful salespeople: "Would you pay $100,000 for my iPhone?" The room was silent. Why would anyone pay that much for a phone? But as he unveiled the treasure trove of information stored on his device - rare books, audiobooks, courses, and a contact list that included Fortune 500 companies, well, the tables turned.
By the time he proposed a price tag of $750,000, almost everyone in the room thought it was a bargain! So, what changed? The perception of value.
Let's apply this to our studios. You're not just offering a $25 painting session. That might seem steep compared to a $4 Walmart mug, but what if we reframe it? What if this session is a chance for a family to create lasting memories, to bond over brushes and colors, and to walk away with a tangible reminder of their shared experience?
Suddenly, that $25 seems like a steal, doesn't it?
So, dear readers, don't sell yourself short. Your studio isn't just a place. It's an experience. It's a community. It's a path to profitability with smooth financial systems baked right into its DNA. It supports a healthy retail and event-driven environment where your business's job is to support you (as you support it).
In the grand scheme of things, is your studio cheap or expensive? Well, I guess it depends on how you frame it!
And hey, do yourself a favor and pick up Brunson's book. It's a quick read and full of great insights. You might just find it's worth every penny!
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Donna Bordeaux, CPA with PYOPAccounting.com
Creativity and CPAs don’t generally go together. Most people think of CPAs as nerdy accountants who can’t talk with people. Well, it’s time to break that stereotype. Lively, friendly, and knowledgeable can be a part of your relationship with your CPA, as demonstrated by Donna and Chad Bordeaux. They have over 50 years of combined experience as entrepreneurial CPAs. They’ve owned businesses and helped business owners exceed their wildest dreams. They have been able to help businesses earn many times more profit than the average business in the same industry and are passionate about helping industries that help families build great memories.
